Confectionery Ingredients Market Trend, Size, Share, Future Demand, Top Key Players, Business Prospects and Forecast to 2023

23/mar/2018 08:27:30 suraj taur Contatta l'autore

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Market Scenario:

Confectionery ingredients are used in the preparation of confectionery products such as candy, chocolates, sweets, chewing gum, and others. These ingredients mainly include chocolate, cocoa, emulsifier, sweeteners. Chocolate is gaining popularity owing to the health benefits associated with it such as improved blood flow and reduction in the risk of heart related disease. Moreover, sweeteners are used as a substitute to sugar in the market and considered as a healthy additive for the health conscious consumers. Additionally, they are less in calories and provide the same taste as sugar does, which gained popularity among diabetic patients, obese population and rising health conscious population.

Various confectionery ingredients have diverse applications in sweets, candy, candy nuts, chocolates, chewing gum, and others. These applications drive the growth of the market. Additionally, escalating demand for sugar free products owing to growing health awareness among consumers add fuel to the market growth.

Confectionery ingredients are used in various industries, for instance, food, pharmaceuticals and personal care. Owing to spicy and pungent flavor, it is widely used in various food products. Moreover, they are used as an essential flavoring agent in the preparation of fast foods such as pizza, noodles, pasta, and many more. Additionally, increasing consumption of fast food is increasing the growth of the confectionery ingredients market. Apart from being a flavoring agent, it holds many health beneficial properties such as reducing cholesterol, benefiting immune system, and others. These properties have supported its usage in functional beverages thus, expanding its market.

Furthermore, confectionery ingredients has anti-fungal and anti-bacterial properties for which it is used in the medical sector for the treatment of athlete’s foot caused due to ring worm infection. It also attributes to ailments associated with heart and blood systems, which has increased its acceptance in pharmaceutical industry. However, some consumers are allergic to garlic and develop asthma or skin rash by consuming garlic, which acts as a restraint for the growth of confectionery ingredients market.

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Key Players

Some of the key players profiled in the global confectionery ingredients market are McCormick & Company, Inc. (U.S.), NOW Foods (U.S.), Mars Incorporated (Australia), Woolworths Limited. (Australia), NILON'S. (India), Dabur (India)

Key Findings:

Applications of confectionery ingredients in the food industry are growing rapidly

China, Spain, Argentina, India and the Netherlands are the major producers and exporters in the confectionery ingredients market.

Segments:

Confectionery ingredients is segmented on the basis of product form, which include powder, granulated, oil, paste, and others. Among all, the paste form of confectionery ingredients is dominating the market. It is used as one of the primary cooking ingredient, which gives distinctive flavor and aroma of freshly ground garlic in the food.

On the basis of application, the confectionery ingredients is segmented into  pharmaceuticals, cosmetics, and food and beverage industry including culinary market, sausage, beverage, spices, seasoning, condiment, and others. Among all, the food and beverage industry is dominating the market by its high usage in different product lines. It is used in cooking as a flavoring agent as well as it provides various health benefits in the food products to the consumers.

Based on the distribution channel, it is segmented as store-based and non-store based. Store-based distribution channel dominates the market owing to one stop shopping experience.

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Regional Analysis:

The global confectionery ingredients market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the confectionery ingredients market. In Asia Pacific, China and India are the major consumers of confectionery ingredients owing to their usage in the preparation of different cuisines in these countries. Moreover, North America is witnessing a considerable growth in the confectionery ingredients market owing to increased consumers’ likeness in the U.S. region.

 

Furthermore, in Europe, the U.K. and the Netherlands are the prominent consumers. Moreover, increased popularity among consumers for garlic flavored food products is expected to flourish the growth of confectionery ingredients market in rest of the world.

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